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Wyndham Destinations completes $300M term securitization

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According to Market Intelligence, December 2022

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Wyndham Destinations completes $300M term securitization

Wyndham Destinations completed the term securitization of $300 million of asset-backed notes.

The timeshare company's unit Sierra Timeshare 2019-3 Receivables Funding LLC issued about $126 million of class A notes with a coupon of 2.34%, approximately $81 million of class B notes with a coupon of 2.75%, approximately $66 million of class C notes with a coupon of 3.00%, and approximately $27 million of class D notes with a coupon of 4.18%.

The vacation ownership and exchange company said the term securitization had an advance rate of 98%.